Rebound day after two large declines or more selling?
The 1st two days of October have not been kind to the major stock indices in the US with declines of around 1.5% on each of the days. Willl the trend continue, or will we get a rebound day.
The major indices, opened lower but are already back in the black as a result of buying the 1st few minutes of trading:
The snapshot a few minutes into the opening is now showing:
- S&P index up 3.4 points or 0.12% at 2891.2
- The NASDAQ up 11 points or 0.14% 7796
- The Dow up 4 points or 0.02% at 26083
In the US debt market, the yields still remain in the negative and near session lows (not showing a rebound feeling so far). The two-year is down -2.4 basis points. The 30 year is down -1.7 basis points.
In other markets, shortly after the equity open:
- spot gold is up $1.50 or 0.10% $1501
- WTI crude oil futures are down $0.83 or -1.6% at $51.79
The snapshot of the Forex market now shows the GBP as the strongest currency while the CHF remains the weakest.